LIC owns 49.2 per cent of the lender and the government and public own the remaining shareholdings in the bank which was on the verge of collapse before it was forced into the control of LIC weighed by a third of its loans turning dud
The Telangana government on Sunday launched ‘Nethanna Bima,’ a life insurance scheme for handloom and power loom weavers, marking National Handloom Day.
Launched in December 2021, the LIC Bima Jyoti Insurance plan is a non-linked, non-participating, individual, life assurance savings plan that provides...
Past week, the BSE Sensex plunged 2,943.02 points or 5.42 per cent, while the NSE Nifty declined 908.30 points or 5.61 per cent.
The stock tanked 5.85 per cent to settle at Rs 668.20 apiece on the BSE. During the day, it plunged 6 per cent to Rs 666.90
The total income of the insurer during the March quarter increased to Rs 2,12,230.41 crore, from Rs 1,90,098 crore in the same period of the previous fiscal.
Shares of LIC closed at Rs 875.45, down Rs 73.55 or 7.75 per cent over the issue price, on the BSE. At this price, LIC is valued at nearly Rs 5.54 lakh crore....
LIC's IPO was subscribed 2.95 times on the last day of the offer period on Monday, helping the government mobilize about Rs 21,000 crore.
Against 16,20,78,067 shares on offer, 47,83,25,760 bids were received, according to data posted on stock exchanges at 7 pm.
With the public offer which closes later in the day, the government aims to generate about Rs 21,000 crore by diluting a 3.5 per cent stake in the insurance...
Subscription for the non-institutional investors' segment stood at 76 per cent, while that for QIBs' portion was lower at 56 per cent.
Portions set aside for Non Institutional Investors and Qualified Institutional Buyers (QIBs) also got subscribed 26 per cent and 33 per cent each...
Of the total, the policyholder portion was subscribed fully while the reserved employees' portion was subscribed 0.49 times, as per the data on stock...
The government is selling 22,13,74,920 shares in Life Insurance Corporation (LIC) at a price band of Rs 902-949 a share, targeting to raise about Rs 21,000...
IDBI Bank became a subsidiary of LIC with effect from January 21, 2019, following the acquisition of an additional 82,75,90,885 equity shares.
Even after the reduced size of about Rs 20,557 crore, LIC IPO is going to be the biggest initial public offering ever in the country.
The government expects to raise around Rs 21,000 crore from LIC IPO, which values the state-owned insurer at Rs 6 lakh crore.
The LIC has set a price band of Rs 902-Rs 949 per equity share. The government intends to raise Rs 21,000 crore through the issue.
The government is selling over 22.13 crore shares in LIC at a price band of Rs 902-949 a piece in the initial public offering, which opens on May 4 and closes...
With this IPO, which is through an offer-for-sale (OFS) route, the government is looking to divest its 3.5 per cent stake in the state-run insurer by selling...
The issue is likely to open for subscription on May 4 and is expected to close on May 9.
Touted as India’s biggest IPO, the government was earlier planning to sell its 5 per cent stake in LIC to raise Rs 63,000 crore.
